It’s a dream so many of us have: to build our own home on our own patch of land. Our own little paradise. If you’re within reaching distance of that dream, congratulations! You’re almost there. As you move forward, towards realizing the dream of building a home, you want to make sure you go about everything the right way, crossing off every item on the checklist and ensuring that every facet of your home building experience goes easily and smoothly.
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One of the first things you want to do is secure funding. What’s the point of moving forward with building a home if you can’t afford it? Securing a loan with a reputable bank, mortgage lender or loan company is your first step. It’s a good idea to meet with a few different ones to get an idea of how much you can be approved for, what the interest rates are, etc. You’ll also want to make sure you have the money for the down payment and any closing costs, as well as a cushion for assorted purchases related to your home – there will definitely be some unexpected costs.
The next step is to secure your land. You may already have land that you own, which will make the process go easier and quicker. Certain land in rural areas are eligible for FHA or USDA loans, so be sure to speak to your loan officer about that possibility. Any land you choose must be zoned properly and you must be legally allowed to build a habitat/structure on said land. This means you must do research on the land before you purchase it. Check with your local tax assessor’s office, or, if you have a realtor, they may be able to work with you on this. Take the time to compare prices, making sure that you get a patch of land that has enough acreage for you, and meets your needs in every way. Research the area to make sure it’s safe, that property taxes aren’t too high, etc.
You’ll need to meet with an architect or design firm, as well as a builder to discuss your home – they’ll work with you to find out all the details about your ideal home, ironing out plans and finding the perfect home design for you. Some building companies even offer design, building and land packages, to save you time and money. Opt for the cheapest house and land package, or work with the firm to customize the home of your dreams. It’s totally up to you.
Once you’ve got the land and funding secured, the design picked, and the team ready to go – it’s time to build! Of course, you’ll have taken the time to interview and hire the best team of builders, contractors, electricians and plumbers to work on your amazing house. The average home takes several months to build, and in that time you’ll find you’ve got a lot of papers to sign, supplies to purchase, and yes, issues to navigate – nobody ever said building a house wasn’t stressful – but the end result, your beautiful new home, will be absolutely worth it.
